Analyzing Business Scenario


Planners of innovative business projects at the first instance should analyze the business scenario around the market and evaluate its suitability to the market players, including consumers. Often companies undergo serious limitations in making complete analysis of the market scenario from the perspective, existing demand and competition, available resources, technology, and lifecycle of the innovative products. This chapter argues that scenario planning is an essential tool for developing innovative business projects. Understanding market scenarios is a superior way of visualizing a business project in order to help managers see how the business environment offers better strategic choices in carrying ...

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